Thursday, October 02, 2008

Senate Passes Emergency Economic Stabilization Act 

Yesterday the U.S. Senate passed the Emergency Economic Stabilization Act of 2008. You can find the full-text of the latest version of this bill on the website of the U.S. Senate Committee on Banking, Housing, and Urban Affairs. This web page also contains a one page summary and a section by section analysis. For further commentary see: Senate passes bailout [CNN article]; Congress Struggles With Wall Street Bailout [NPR web page with several good articles]; and The Bailout: An Owner's Manual [Great Explanation from Forbes.com].

October 8: See the full-text of the law at gpoaccess.gov: H. R. 1424

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I hope the Treasury of Secretary gets a good price for the securities. He is part of government so I doubt it. They should not pay more than 36% of the Face Value. The face value is principal and all the interest for the life of the loan is paid in full. nomedals.blogspot.com
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